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September 09, 2014

NAS Introduces Enhanced Cyber Liability Solutions

NAS Insurance Services, a leading underwriting manager of specialty insurance, introduced its new suite of Cyber Liability insurance services to respond to the growing needs of businesses facing constant threats of privacy and security breaches.

“We’ve been at the forefront of cyber coverage for over 10 years,” remarked NAS’ CEO, Richard Robin. “Seeing the level of recent cyber incidents at Home Depot, UPS, SuperValu as well as many of our own policyholders, we’ve expanded our services to meet the insurance needs and post-breach support needs for companies of all sizes.”

NAS today introduces broad enhancements to its cyber liability policy and related services. NetGuardTM Plus policyholders now have the option to purchase breach response coverage based on the number of customer records they wish to insure, reducing their concerns about the costs of customer notification and credit monitoring. In addition, the cyber liability policy now may be endorsed to include Dependent Business Interruption insurance that covers a business’ loss of income should its essential technology vendors go down and thus impact the policyholder’s operations. The NAS cyber policy also includes BrandGuardTM that covers lost revenue in the event a cyber attack generates unfavorable media reports about the company and impacts the brand’s reputation.

“Each of these product enhancements is designed to provide business owners expanded protection and flexibility,” comments NAS’ head of underwriting, Mike Palotay. “We understand the security and privacy concerns of our policyholders and have advanced our insurance offering to address breach response and more importantly, business restoration.”

The enhanced services also include simplified online quoting and issuing of cyber policies at nasinsurance.com/nasonline,  an updated Cyber Risk Management website for policyholders, and cyber liability sales support for agents at smarter.nasinsurance.com.

NAS is a full-service specialty insurance underwriting manager that provides product development, underwriting, marketing, risk management, and claims handling. NAS insurance products and programs are distributed through brokers and as tailored solutions for mutual insurance carriers.